Amendment to Repurchase Agreement between The Credit Store, Inc. and Bank of Hoven (February 27, 2001)

Summary

The Credit Store, Inc. and Bank of Hoven have agreed to amend their Repurchase Agreement dated November 30, 2000. This amendment extends the Option Period from February 28, 2001, to May 31, 2001. In exchange for this extension, The Credit Store, Inc. will pay Bank of Hoven $10,000. Both parties have signed the amendment to confirm their agreement to these new terms.

EX-10.48 2 0002.txt AMENDMENT TO REPURCHASE AGRMNT DATED NOV 30, 2000 EXHIBIT 10.48 [Letterhead of The Credit Store(Registered)] February 27, 2001 VIA FACSIMILE & U.S. CERTIFIED MAIL ###-###-#### Steve Hageman, President Bank of Hoven 202 Main Street Hoven, South Dakota 67450 Re: Repurchase Agreement Dated November 30, 2000 Dear Mr. Hageman: This letter shall memorialize the agreement between Bank of Hoven and The Credit Store, Inc. to modify the provisions of Section 2.2(a) of the Repurchase Agreement dated November 30, 2000, between the parties to extend the Option Period from February 28, 2001 to May 31, 2001 in consideration of the payment of $10,000 by The Credit Store, Inc. to Bank of Hoven. Please sign the enclosed copy of this letter to signify your agreement with the above modification. Sincerely Yours, /s/ Michael J. Phillippe ----------------------------- Michael J. Phillippe Executive Vice President and Chief Financial Officer BANK OF HOVEN /s/ Steve Hageman, President ----------------------------- Steve Hageman, President